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ACC 573 Final Exam Guide
1. To calculate a company's average tax rate an
analyst would 2. The accumulated benefit
obligation measures 3. The major difference
between accounting for pensions and the
accounting for other postretirement benefits is
that firms 4. Which of the following is not part
of the balance sheet approach when computing
income tax expense? 5. The assessment of earnings
quality is best accomplished through the use of
which one of the following?
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Midterm Exam Guide
ACC 573 Midterm Exam Guide 1. The two categories
of shareholders' equity usually found on the
balance sheet of a corporation are 2. When a firm
attempting to create unique products or services
for particular market niches, in order to achieve
relatively high profit margins, this is best
known as 3. Which of the following economic
characteristics is consistent with a
pharmaceutical company?
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ACC 573 Week 1 DQ 1
Based on your review of the SEC reporting
requirements as outlined in the Sarbanes-Oxley
Act, assess the adequacy of the reporting
requirements for providing credible financial and
operating information for company stakeholders
and potential investors, indicating any gaps
identified in the reporting. Provide support for
your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
 ACC 573 Week 1 DQ 2
Assess how the GAAP and IFRS convergence
project has impacted SEC reporting requirements,
predicting the long-term impact of the
convergence on reporting. Provide a rationale for
your prediction.
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 ACC 573 Week 2 DQ 1
Assess how the GAAP and IFRS convergence project
has As a CFO of a publically traded company,
suggest how you would create an ethical
environment to ensure account balances are
correctly valued and reported so that information
is reliable for users. Provide support for your
rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 2 DQ 2
In todays business environment where publicly
traded companies feel pressure to meet short-term
earnings expectations, management may be tempted
to manage earnings. Assess how a financial
statement user may be able to detect managed
earnings when reviewing the firms balance sheet,
income statement, and cash-flow statement.
Indicate how a potential investor might interpret
these red-flags. Provide support for your
rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 3 Assignment 1 Financial Statement
Restatement and Ethics
Write a two to three (2-3) page paper in which
you 1. Assess the factors that contributed to
the financial statement restatement, signifying
the executive management teams attitude toward
the restatement. Suggest how the restatement may
have been avoided during the initial reporting
process.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 3 DQ 1
As part of the Sarbanes-Oxley Act, corporate
officers are no longer able to pass the buck of
responsibility for ensuring adequate controls
over financial statements and reporting
activities thus ensuring the accuracy of
financial statements. Assess the adequacy of the
provisions contained within the Act, indicating
whether or not you believe requirements will
improve the accuracy of financial statements and
reporting. Provide support for your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 4 DQ 1
Based on your review of the current requirements
of the SEC and FASB, assess the adequacy of the
guidelines for ensuring the transparency of
off-balance-sheet transactions to investors,
indicating where improvements may still be
needed. Provide support for your rationale. As
a CFO of a publically traded company, evaluate
the pros and cons of using off-balance-sheet
financing, including a recommendation as to
whether or not you support using these types of
arrangements. Provide support for your
recommendation
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ACC 573 Help Bcome Exceptional / acc573assist.com
 ACC 573 Week 4 DQ 2
Based on the information found in the e-Activity,
assess the key differences between U.S. GAAP and
IFRS reporting for the testing of asset
impairment and the requirement to write down the
asset value. Indicate whether or not you support
the U.S. GAAP or IFRS approach. Provide support
for your position.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 5 DQ 1
Create an argument for the use of Fair Market
Accounting as opposed to historical cost. Provide
support for your argument. Evaluate the
effectiveness of the accounting principle
guidelines for determining the market value of an
asset, indicating improvements to these
guidelines. Provide support for your
recommendations. Create an argument for the use
of Fair Market Accounting as opposed to
historical cost. Provide support for your
argument.
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ACC 573 Help Bcome Exceptional / acc573assist.com
 ACC 573 Week 5 DQ 2
Assess the risks associated with derivatives
instruments, indicating how these risks may be
minimized for a publically traded company.
Provide support for your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 6 DQ 1
The Sarbanes-Oxley (SOX) Act was created with
the intent of improving the quality of
accounting, reliability of financial statements
to investors, and providing oversight to
accounting professionals through the creation of
a new federal agency, Public Accounting Company
Oversight Board (PACOB). Create an argument
supporting whether SOX achieved these goals, and
whether financial data reported today is more
accurate and reliable than prior to the Act.
Provide support for your rationale.
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ACC 573 Week 6 DQ 2
Assess the impact to public trust when a
publically traded company restates its financial
data, indicating how negative impressions may be
minimized. Provide support for your rationale.
Evaluate the current trend of companies restating
financial statements. Indicate the key drivers of
this trend. Predict the trend over the next five
years, providing support for your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
 ACC 573 Week 7 Assignment 2 Accounting Quality
Write a four to five (4-5) page paper in which
you 1. Assess the roles of the Board of
Directors and Chief Executive Officer of a public
company for establishing an ethical environment
that generates quality accounting and reliable
financial reporting for use by shareholders and
investors. Provide support for your
assessment. 2. Recommend a strategy for a CEO to
implement, leading to an ethical environment that
leads to high-quality accounting, reporting, and
forecasting. Provide support for your
recommendation.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 7 DQ 1
Assess the financial performance forecasting
process, identifying the assumptions made that
are most likely to cause a gap between the
forecast and actual performance. Indicate how
these gaps may be minimized. Provide support for
your rationale. Create an argument supporting
the value of forecasting to an organization.
Provide support for your argument.
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ACC 573 Help Bcome Exceptional / acc573assist.com
 ACC 573 Week 7 DQ 2
Assess the market and shareholder behaviors when
a publically traded company makes the decision
not to pay dividends to its shareholders,
suggesting how management should react to these
behaviors. Provide support for your rationale.
Evaluate the factors that an investor may
consider when deciding whether or not to invest
in a company with a policy of non-dividend
payments. Indicate whether or not you believe
this a prudent choice for some investors. Provide
support for your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 8 DQ 1
Create an argument that use of the present value
free cash-flow method has a more beneficial
economic meaning than earnings-based methods.
Provide support for your argument. Assess the
challenges related to using the present value of
the free cash-flow valuation method in practice,
suggesting how each of these challenges may be
overcome. Provide support for your rationale.
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ACC 573 Week 8 DQ 2
Assess how the free cash-flow method can be used
when a company is profitable yet the cash-flow
values are expected to be negative over the next
five years, indicating the likely impact on the
valuation. Provide support for your rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 9 DQ 1
Create an argument supporting that using the
earnings-based valuation method yields the most
accurate results. Provide support for your
argument. Assess the challenges related to
using the earnings-based valuation method in
practice, suggesting how each of these challenges
may be overcome. Provide support for your
rationale.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 9 DQ 2
Evaluate the likely impact on a firms valuation
when using U.S. GAAP versus IFRS accounting
methods, indicating which accounting standards
you believe may yield a more favorable result.
Provide support for your position. Determine
how a firms valuation using the earnings-based
valuation method would be impacted when using
aggressive versus conservative accounting.
Provide evidence supporting your conclusion.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 10 Assignment 3 Company Valuation
(Facebook IPO)
Write a five to six (5-6) page paper in which
you 1. Evaluate the valuation and method used to
determine the Initial Public Offering value of
Facebook stock, indicating any miscalculations in
the valuation that may have mislead potential
investors and how these errors may have been
minimized. Provide support for your response. 2.
Assess the performance of the stock within the
first year of the public offering, indicating the
drivers of the performance and the resulting
impact to the company performance.
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ACC 573 Help Bcome Exceptional / acc573assist.com
ACC 573 Week 10 DQ 1
Create an argument supporting that using the
market-based valuation method yields the most
accurate results. Provide support for your
argument. Assess the challenges related to
using the market-based valuation method in
practice, suggesting how each of these challenges
may be overcome. Provide support for your
rationale.
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